Plessen v. Commissioner
United States Tax Court
In 1931, decedent's father transferred shares of stock to himself and decedent as joint tenants with the right of survivorship. He died in 1947, and she thereupon became the sole owner of the stock. Under the laws of the State wherein the father resided at the time of his death, decedent became liable for that part of his estate taxes attributable to the stock. Decedent died in 1949, and her executor subsequently paid her share of her father's estate tax.
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In 1931, decedent's father transferred shares of stock to himself and decedent as joint tenants with the right of survivorship. He died in 1947, and she thereupon became the sole owner of the stock. Under the laws of the State wherein the father resided at the time of his death, decedent became liable for that part of his estate taxes attributable to the stock. Decedent died in 1949, and her executor subsequently paid her share of her father's estate tax. Held, the deduction for previously taxed property provided by section 812 (c) of the 1939 Code, to which decedent's estate is entitled for…
1Opinion of the Court
OPINION.
Rice, Judge:
This proceeding involves a deficiency in estate tax in the amount of $7,075.60, determined by respondent under the provisions of the 1939 Code.
The sole issue is whether the Estate of Eleanor G. Plessen is entitled to a deduction for property previously taxed in a prior decedent’s estate as provided in section 812 (c),1 measured by the full value of such property or whether such deduction is limited to such value minus the Federal estate taxes thereon, for which she was liable and which her executor paid.
The parties have stipulated that the petitioner will incur additional…
2Cases cited3 opinions
- Central Hanover B. & T. Co. v. Commissioner of Int. Rev.Court of Appeals for the Second Circuit · 1947
- Bahr v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1941
- Ackley v. CommissionerUnited States Tax Court · 1955
3Cited by3 opinions
- Estate of Osborn v. CommissionerUnited States Tax Court · 1957
- Estate of Osborn v. CommissionerUnited States Tax Court · 1957
- Plessen v. CommissionerUnited States Tax Court · 1956